Seaborne iron ore prices eased on Monday February 10 amid the de-escalation of Tropical Cyclone Damien which hit Western Australia at the end of last week.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $82.88 per tonne, down $0.71 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $82.21 per tonne, down $0.71 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $84.07 per tonne, down $0.95 per tonne.
58% Fe fines high-premium, cfr Qingdao: $70.35 per tonne, down $0.43 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $97.60, down $0.80 per tonne.
62% Fe fines, fot Qingdao: 613 yuan per wet metric tonne (implied
62% Fe China Port Price: $79.81 per dry tonne), up 2 yuan per wet metric tonne.
Key drivers
The rise in seaborne iron ore prices last week was likely due to the tropical cyclone scare, according to market participants, but they believe the situation has now de-escalated with minimal disruption caused.
The Pilbara Ports Authority (PPA) announced on Monday...